• Money Market Funds and Closed-End Fund Preferred Stock--Watch the Ball, Not the Triggers
  • July 30, 2008 | Author: Stephen A. Keen
  • Law Firm: Reed Smith LLP - Pittsburgh Office
  • The recent no-action letter, issued jointly by the staff of the Division of Investment Management ("IM") and the Division of Corporate Finance ("Corp Fin") of the Securities and Exchange Commission (the "Commission") to Eaton Vance Management (pub. avail. June 13, 2008) (the "Eaton Vance Letter"), represents another step down the circuitous path that eventually leads to money market funds acquiring preferred stock issued by closed-end funds.